{"id":287236,"date":"2021-04-17T12:58:53","date_gmt":"2021-04-17T16:58:53","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=287236"},"modified":"2021-04-17T13:03:42","modified_gmt":"2021-04-17T17:03:42","slug":"btc-usd-long-term-trend-bullish-daily-chart-193","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/btc-usd-long-term-trend-bullish-daily-chart-193","title":{"rendered":"Bitcoin Price Prediction: BTC\/USD May Hit $60,000 Support as Price Slumps Below 9-Day MA"},"content":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 April 17<\/strong><\/p>\n

After hitting its all-time high above $62,572 on the day, the king coin is seen moving with a bit of downward pressure.<\/p>\n

BTC\/USD Long-term Trend: Bullish (Daily Chart)<\/h4>\n

Key levels:<\/p>\n

Resistance Levels: $65,000, $67,000, $69,000<\/p>\n

Support Levels: $56,000, $54,000, $52,000<\/p>\n

\"\"<\/a>
BTCUSD – Daily Chart<\/figcaption><\/figure>\n

As the market blinks in subtle red for BTC\/USD<\/a> as the first digital asset is seen moving around $60,221 with a loss of 1.96% within 24 hours. According to the daily chart, the number one cryptocurrency hit a brick wall on the approach to $63,000 but immediately dropped under the $62,572 resistance level in a matter of hours.<\/p>\n

Would Bitcoin Go Up or Down?<\/h4>\n

After yesterday’s fall, BTC\/USD is facing another decline today as the coin crosses below the 9-day moving average. Meanwhile, any further bearish movement may cause the coin to experience more downfalls. Presently, BTC\/USD is seen trading below the $61,000 and $60,500 support levels. However, the price level of $60,000 is still proving that bulls are in charge but bears are now pushing the price back to retest the nearest support level of $58,000.<\/p>\n

On the downside, the technical indicator RSI (14) crosses below 60-level to confirm the bearish movement and initial support is near the lower boundary of the channel; if there is a successful break below this barrier, the bears are likely to gain strength by bringing the price to a low of $56,000, $54,000, and $52,000 respectively.<\/p>\n

However, an upside break above the daily high of around $62,572 is a must to start a substantial recovery. Meanwhile, the next hurdles may be seen near the resistance levels of $65,000, $67,000, and $69,000.<\/p>\n

BTC\/USD Medium – Term Trend: Ranging (4H Chart)<\/h4>\n

According to the 4-hour chart, BTC\/USD is currently trading around $60,553 and below the 9-day and 21-day moving averages after falling from $60,627 where the coin touched today. Meanwhile, the 4-hour chart shows that the bullish supply may be coming up slightly as the RSI (14) makes a quick turn to the upside.<\/p>\n

\"\"<\/a>
BTCUSD – 4 Hour Chart<\/figcaption><\/figure>\n

However, in as much as the buyers can re-energize the market, they can further push the price back above the moving averages. Therefore, breaking this barrier could allow bulls to retest the resistance level of $62,500 and above. But any further movement below the lower boundary of the channel may reach the support level of $58,500 and below.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin (BTC) Price Prediction \u2013 April 17 After hitting its all-time high above $62,572 on the day, the king coin is seen moving with a […]<\/a><\/div>","protected":false},"author":1742,"featured_media":287237,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[1],"tags":[734,5319,7991,7992],"acf":[],"yoast_head":"\nBitcoin Price Prediction: BTC\/USD May Hit $60,000 Support as Price Slumps Below 9-Day MA<\/title>\n<meta name=\"description\" content=\"After hitting its all-time high above $62,572 on the day, the king coin is seen moving with a bit of downward pressure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/287236\" \/>\n<meta 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